Canadian silver mining company Silver Wheaton Corp. (SLW,SLW.TO), Wednesday reported a significant rise in profit for the second quarter, helped mainly by higher production volumes and realized prices. Earnings fell short of estimates, while sales surpassed.
The Vancouver-based company's second-quarter net earnings were US$53.26 million or US$0.15 per share, up from US$18.44 million or US$0.06 per share in the same quarter last year.
On average, 10 analysts polled by Thomson Reuters expected the company to report earnings of US$0.16 per share. Analysts' estimates typically exclude special items.
Sales for the quarter rose to US$95.00 million from US$41.40 million in the prior-year quarter. Analysts had consensus revenue estimate of US$94.28 million for the quarter.
Attributable silver equivalent production was 5.7 million ounces, up 33% over the comparable period in 2009. Production for the quarter includes 5.3 million ounces of silver and 5,800 ounces of gold.
Silver equivalent sales increased 74% to 5.1 million ounces from the previous year. Average realized prices increased to US$18.48 per ounce from US$14.04 per ounce last year.
Total cash costs for the quarter were US$4.03 per silver equivalent ounce, compared with US$3.99 per ounce in 2009.
Peter Barnes, chief executive officer of Silver Wheaton, said, "In the face of continued global economic uncertainty, the price of silver performed very well in the quarter, leading to record cash operating margins of US$14.45 per ounce, and clearly demonstrating the advantages of Silver Wheaton's business model of low fixed operating costs."
"With Goldcorp's Penasquito mine in Mexico, the first of our cornerstone assets, continuing to ramp up silver production ahead of schedule, we look forward to an even stronger second half to the year and maintain our annual attributable silver equivalent production guidance of 23.5 million ounces," Barnes added.
SLW closed Wednesday's regular trading at $19.20, down $0.67 or 3.37%, on a volume of 4.70 million shares on the NYSE. In after hours, the stock gained $0.26 or 1.35%, trading at $19.35. In the past 52-week period, the stock trended in a range of $9.10 to $21.89, with a 3-month average volume of 6.02 million shares.
On the Toronto Stock Exchange, SLW closed Wednesday's trading at C$20.13, down C$0.45 or 2.19%, on a volume of 1.26 million shares. In the past 52-week period, the stock trended in a range of C$10.10 to C$22.64, with a 3-month average volume of 1.84 million shares.
For comments and feedback contact: editorial@rttnews.com
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.